Floating Rate Correlations

Mutual Funds . USA . 
Fund . Floating Rate Fund
LFRAX Fund  USD 8.01  0.01  0.12%   
The current 90-days correlation between Floating Rate and Prudential Core Conservative is -0.1 (i.e., Good diversification). The correlation of Floating Rate is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Floating Rate Correlation With Market

Poor diversification

The correlation between Floating Rate Fund and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Floating Rate Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Floating Rate Fund. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Floating Mutual Fund

  0.8LFSFX Lord Abbett FocusedPairCorr
  1.0LFRRX Lord Abbett InvPairCorr
  0.99LFROX Lord Abbett FloatingPairCorr
  0.8LFVAX Lord Abbett FocusedPairCorr
  0.87LGRFX Lord Abbett InvestmentPairCorr
  0.84LGRUX Lord Abbett InvestmentPairCorr
  0.88LHYOX Lord Abbett HighPairCorr
  0.7LICFX Lord Abbett InternationalPairCorr
  0.73LIGFX Lord Abbett DiversifiedPairCorr
  0.67LIFAX Lord Abbett InflationPairCorr
  0.66LIFVX Lord Abbett InflationPairCorr
  0.66LINTX L Abbett InternationalPairCorr
  0.68LIRRX Lord Abbett InternationalPairCorr
  0.72LIXVX Lord Abbett MultiPairCorr
  0.81LLDYX Lord Abbett ShortPairCorr
  0.83GILAX Lord Abbett FundamentalPairCorr
  0.76LMCTX Lord Abbett MidPairCorr
  0.76LMCRX Lord Abbett MidPairCorr
  0.74BFLAX Lord Abbett BalancedPairCorr
  0.77LMIYX Lord Abbett MicroPairCorr
  0.8LMVOX Lord Abbett FocusedPairCorr
  0.8LMVYX Lord Abbett MicroPairCorr
  0.76LOBFX Lord Abbett MultiPairCorr
  0.79LOMGX Lord Abbett GrowthPairCorr
  0.66LOLDX Lord Abbett ShortPairCorr
  0.77LQFLX Lord Abbett FocusedPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Floating Mutual Fund performing well and Floating Rate Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Floating Rate's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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